Centurion Bank of Punjab - Updates

Centurion Bank of Punjab Ltd has informed that the following proposals will be circulated for consideration by the Board of Directors:

1. Adjusting the Goodwill against Securities Premium Account in terms of Section 78 read with Section 100 of the Companies Act, 1956, subject to the approval of the shareholders and the Hon'ble High Court of Judicature at Bombay, Panaji Bench, Goa.

2. Amendment in the existing Employees Stock Option Schemes viz. "Key Employee Stock Option Plan — 2004" and General "Employee Stock Option Plan—2004", subject to the approval of the shareholders, to provide for

(a) recovery from an eligible employee, the fringe benefit tax payable in respect of stock options granted to them.

(b) re-issue of expired / lapsed options.

3. Amendment in the General "Employee Stock Option Plan —2004", subject to the approval of the shareholders, to provide for accelerated vesting of stock options granted.

4. Convening an Extraordinary General meeting of the shareholders of the Bank to seek necessary approvals as above.